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StoneMor Inc., headquartered in Trevose, Pennsylvania, is a prominent owner and operator of cemeteries and funeral homes across the United States. With an extensive network comprising 313 cemeteries and 82 funeral homes spanning 27 states and Puerto Rico, StoneMor provides comprehensive cemetery and funeral services.
StoneMor's offerings include a variety of cemetery products and services available on both a pre-need (before death) and at-need (at death) basis. These products and services include burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and the installation of these items. This dual approach ensures that families have the options and flexibility to plan according to their needs and preferences.
Recently, the company has been focusing on enhancing its service quality and expanding its reach. Ongoing projects aim to modernize facilities and improve customer experience. Financially, StoneMor continues to work on optimizing its operations to ensure sustainability and growth. Strategic partnerships further bolster its market position, enhancing its service portfolio and operational efficiencies.
StoneMor remains committed to providing compassionate and professional services, ensuring that every aspect of their operations meets the highest standards. For the latest news and updates, StoneMor is actively engaged in innovative solutions aimed at improving both client experience and operational efficiency.
StoneMor Inc. (NYSE: STON) reported Q1 2021 results, with revenues increasing to $78.3 million from $65.1 million year-over-year. The cemetery segment's operating income rose to $11.7 million, while the funeral home segment saw a slight increase to $1.6 million. Although corporate overhead grew to $9.5 million, the company achieved an operating income of $3.6 million compared to a loss last year. Adjusted EBITDA surged to $28.0 million from $7.1 million. Following a successful refinancing, StoneMor enhanced its liquidity, netting approximately $30 million in cash.
StoneMor Inc. (NYSE: STON), a leading cemetery and funeral home operator, announced the closing of a $400 million private offering of its 8.500% Senior Secured Notes due 2029. Interest on the Notes is payable semi-annually, with guarantees from certain domestic subsidiaries. Proceeds will be used to redeem approximately $338.1 million of its existing 9.875%/11.500% Senior Secured PIK Toggle Notes due 2024 and for general corporate purposes, including potential acquisitions. The offering was made to qualified institutional buyers and non-U.S. persons according to specific regulations.
StoneMor Inc. (NYSE: STON) announced that it will release its 2021 first quarter financial results on May 13, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. Eastern Time to discuss these results. The call can be accessed at (800) 786-5706, with a live webcast also available on the StoneMor website. StoneMor operates 304 cemeteries and 70 funeral homes across 24 states and Puerto Rico, offering various pre-need and at-need products and services.
StoneMor Inc. (NYSE: STON) has announced the pricing of $400 million of 8.500% Senior Secured Notes due 2029. The issuance price is 100% of the principal amount, with interest from May 11, 2021. Proceeds will be used to redeem approximately $338.1 million of 9.875%/11.500% Senior Secured PIK Toggle Notes due 2024, alongside a $18.5 million prepayment premium and associated fees. The offering is set to close on May 11, 2021, under Rule 144A and Regulation S, and is not registered under the Securities Act.
StoneMor Inc. (NYSE: STON) plans to offer $400 million in senior secured notes due 2029 in a private offering. The proceeds will primarily be used to redeem approximately $338 million of existing senior secured PIK toggle notes due 2024. These notes will be secured obligations, guaranteed by some domestic subsidiaries. The offering aims at enhancing financial stability while any remaining funds may be allocated for general corporate purposes, including potential acquisitions.
StoneMor Inc. (NYSE: STON) announced its acquisition of four cemeteries on the East Coast for $5,395,000, subject to working capital adjustments. CEO Joe Redling emphasized that this move marks a strategic shift towards acquisition instead of divestment. The deal is expected to close by July 2021, pending due diligence and regulatory approval. StoneMor operates 313 cemeteries and 80 funeral homes across the U.S. and Puerto Rico, offering a range of burial products and services.
StoneMor reported strong fourth quarter and full year 2020 results, with revenues increasing to $74.9 million in Q4, up from $58.3 million year-over-year. Full-year revenues reached $279.5 million, compared to $257.2 million previously. The cemetery segment operating income rose to $10.9 million from an operating loss, while funeral home income also improved. Corporate overhead expenses decreased significantly. Despite a net loss from continuing operations of $5.7 million in Q4, this was a notable reduction from the prior year’s $52.4 million loss.
StoneMor Inc. (NYSE: STON) has announced its 2021 Annual Meeting of Stockholders scheduled for July 27, 2021, at 4:00 p.m. EDT. The record date for stockholders eligible to vote is June 4, 2021. Proposals for inclusion in the proxy statement must be submitted by April 28, 2021. The meeting will be conducted via remote communication, with further details provided in the upcoming proxy statement. StoneMor operates 318 cemeteries and 88 funeral homes across the U.S. and Puerto Rico, offering various cemetery products and services.
StoneMor Inc. (NYSE: STON) announced the release of its full 2020 fourth quarter and annual financial results scheduled for March 23, 2021. The results will be discussed in a conference call at 4:30 p.m. ET. CEO Joe Redling highlighted strong fourth-quarter performance, with double-digit growth in cemetery sales production year-over-year. StoneMor is executing on turnaround initiatives, such as divesting west coast operations and reducing corporate overhead costs, while exploring refinancing options to enhance financial flexibility and support future growth.
StoneMor Inc. (NYSE: STON) announced on December 23, 2020, that it has regained compliance with the NYSE continued listing criteria, achieving an average closing share price of $1.495 over the last 30 trading days and a closing price of $2.58. This notification by the NYSE confirms that StoneMor meets the necessary requirements to remain listed on the exchange. The Company operates 320 cemeteries and 90 funeral homes across 27 states and Puerto Rico, offering a variety of burial products and services.
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